Word on the Street: Fairfield, Westport & Weston
2013 vs. 2014
Just checking in with a quick report on the real estate markets in July before joining the masses and taking a little vacation-
We would expect the housing market to be seasonally slower in the months of July and August as people are in full summer mode and focused on enjoying the warm weather. However, this July appeared to be slower than last July in Westport and Fairfield. Weston was singing a different tune though-
In Fairfield, unit sales were down almost 43% from 122 to 70 last month. The median (midpoint) sale price was also down 9% to $577,500. The average time on market was up 9% to 97 days. All this is good news for the buyers out there though since it affords them more bargaining power. One measure that favored sellers was a 5% increase in the price per square foot from $290 to $305 of homes that sold.
Sales were also slower in Westport with a 6% reduction and 44 July closings. The median sale price was $1,225,000, down almost 2% from last year. Market time increased 37% to 101 days. Yet the price per square foot increased 11% to $436.
Sellers take note: Weston rallied last month with numbers in your favor! Unit sales were 24% higher this July with 31 compared to 25 last year. The median sale price was up 6% to $820,000. Giving some leverage to buyers was market time up 40% to an average of 137 days and price per square foot down 3% to $257.
So that’s the quick scoop for now. Check out the charts with more numbers and print this report following the link below. I assume there will not be much change in pace next month, but I’m anticipating a rally in September and October when everyone works on making their moves before the holidays and cold weather take over.





















